Target Profit Rises; CE Strong
Target Wednesday reported a second-quarter profit of $704 million, a 3.7 percent gain over the same time last year. The strong quarter was attributed largely to the success of the retailer's REDcard program, as well as successful remodeling on some stores.
The retailer reported strength in the electronics sector.
" In Hardlines, the most notable change has occurred in Electronics. Tablet sales, led by iPad, have been quite strong. And after some very challenging trends in earlier quarters, we're beginning to see stability and even some growth in TV sales," Kathryn Tesija, Target's executive vice president of merchandising, said on the company's earnings call.